I am looking to lease on to an outfit for a percentage of gross, once approved by them, how do i go about financing the truck? I plan to put down 15% on a $162,000 truck that has 15 miles on it. I was asked if I wanted to do lease purchase and I told them i'd rather a separate institution hold my note. (not that this matters to this.)
What information would I need to provide the bank/financing company? Also, what information would I need to gather from the carrier I am planning to lease on to?
I am a bit new to this whole financing thing as I primarily pay cash for everything except gas and groceries with a credit card to build credit.
How do I go about financing the truck?
Discussion in 'Trucker Taxes and Truck Financing' started by chris_karr, Dec 15, 2018.
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pay cash for a solid used truck.
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Well... Who are you buying from? A dealer I assume? You would fill out a credit app and go from there. Do not do a lease purchase from the company your leasing to. They have too much control.
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I wanna know how one gets a truck with 15 miles on it.
The 2 new trucks i got had over 1500 miles on them. -
CruzControhl Thanks this.
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Talk to your bank. You’re not getting a truck financed this year.
After the first, maybe. But that bank is going to need a lot more than your 15% down before they say much more than NO. A lot more. -
CruzControhl and SteerTire Thank this.
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When I said more than 15, I wasn’t talking about the money. I talking about how does he intend to repay it.
They want to know these things -
CruzControhl Thanks this.
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